While China’s severe income inequality has become an increasingly prominent issue in recent months, new estimates from the World Bank on extreme poverty around the globe (PDF) show another side to the country’s economic growth. From Sudeep Reddy at The Wall Street Journal’s Real Time Economics:
About 1.2 billion people in the world lived in extreme poverty in 2010, subsisting on less than $1.25 a day [in 2005 PPP U.S. dollars]. That’s down from 1.9 billion